It is a & # 39; gesture of goodwill & # 39 ;, writes US President Trump, announcing the postponement of further punitive rates on Chinese goods via Twitter. Before that, Beijing also sent a signal of relaxation.
The US government plans to postpone the $ 250 billion in punitive tariffs on Chinese imports announced earlier next month by two weeks until mid-October. US President Donald Trump announced this as a "gesture of goodwill" on Twitter. At the request of Chinese Deputy Prime Minister Liu He and given that the People's Republic is celebrating its 70th birthday on 1 October, it was agreed to postpone the planned rate increase for this tranche from 1 October to 15 October,
The US and China have been waging a trade war for just over a year, slowing economic growth in both countries and slowing the global economy. The two largest economies in the world are gradually overwhelming each other with ever-increasing penalties.
New negotiation round in September
For some time, imports from China to the US have been subject to punitive rates of 25 percent for an amount of approximately $ 250 billion. They were originally intended to be raised to 30 percent from 1 October. This should now happen until October 15. Trump responded to a signal of relaxation that the government had previously sent to Beijing. China has provided a list of American products that should be exempt from punitive rates. There are 16 types of products, as the Chinese Ministry of Finance announced Wednesday, including medicines, medical equipment and chemicals. The ministry did not specify the volume. Other exceptions would be investigated, it said.
The state newspaper Global Times spoke of a "goodwill gesture" in the trade war, before both parties restart negotiations at the beginning of October. The negotiators from China and the US will meet in Washington in September and a round of negotiations will take place at ministerial level in October. Trump had greeted the recent movement of the Chinese and spoke of a respectful gesture. "You did the right thing," he said in the White House on Wednesday. "It was a gesture". Hours later his tweet followed.